Termination of contracts and leases of declarant
- Statute:
- North Carolina §47C-3-105 · Chapter 47C (North Carolina Condominium Act)
- Topic:
- Governance · Cancel declarant contracts
- Applies to:
- Condo associations
If entered into before the board elected by the unit owners takes office, any management contract, employment contract, or lease of recreational or parking areas, and any other contract or lease between the association and a declarant or an affiliate, may be terminated by the association without penalty on at least 90 days' notice, within two years after the owners' board takes office, as this section provides.
📄 Read the official text at ncleg.gov →
How SoShiny helps with Termination of contracts and leases of declarant
SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees.
See the feature → Start freeFrequently asked
- What does North Carolina §47C-3-105 require?
- If entered into before the board elected by the unit owners takes office, any management contract, employment contract, or lease of recreational or parking areas, and any other contract or lease between the association and a declarant or an affiliate, may be terminated by the association without penalty on at least 90 days' notice, within two years after the owners' board takes office, as this section provides.
- Who does North Carolina §47C-3-105 apply to?
- North Carolina §47C-3-105 applies to Condo associations in North Carolina.
- What happens if our condo doesn't comply with §47C-3-105?
- Non-compliance can expose the association and individual directors to disputes in the governing forum for North Carolina community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of North Carolina §47C-3-105?
- The official text is published by the North Carolina General Assembly at ncleg.gov. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Termination of contracts and leases of declarant?
- SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees. Learn more →
Not legal advice. This page is a plain-English summary of North Carolina §47C-3-105 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a North Carolina-licensed attorney. For the official statutory text, see the link above.
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